another reason to leave the US

T

taraz15

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May 10, 2009
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seems like it'll only keep getting worse. is there any reason to stay in the US if you have money and the option to take your biz offshore?

In each of these cases, and many others, the IRS, without notice or so much as a criminal complaint or indictment, swooped in and emptied the bank accounts of these completely legitimate people and businesses.

And the number of times this is happening has only been growing.

The New York Times reports that there were 114 of these seizures in 2005. However, in 2012, the last statistics available, the number had grown to 639 seizures.

It get’s worse. Of the 639 seizures in 2012, only twenty percent of these seizures turned out to involve cases where criminal charges were ever pursued.

Think about that— a full eighty percent of the bank accounts emptied by the IRS in 2012 involved completely innocent people and businesses.
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A New IRS Horror Story That Makes Past Scandals Pale In Comparison - Forbes
 


Eh, didn't Grunin get a bank account seized by the IRS and hasn't been charged with a crime, yet.....

edit:: read the article and looks like they're not going to do it as much in the future...
“After a thorough review of our structuring cases over the last year… IRS-CI will no longer pursue the seizure and forfeiture of funds associated solely with ‘legal source’ structuring cases unless there are exceptional circumstances justifying the seizure and forfeiture and the case has been approved at the director of field operations (D.F.O.) level.”
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While America has its faults, i am yet to find better protection when it comes to taxes, freedom and liberty to start a business.

In most European countries starting a business is like pulling teeth. In America just move to a lower taxed state.
 
Everyday I hear how the government is doing what ever they please. is this scaring anyone else? I cant wait til they come to my door and blow it open ith for reason at all and they take everything. and they wonder why americans don't trust anything or anyone. just look at the Drugs they try to sell on TV and 6 months later theres a programming while your watching "fresh prince of bel-air" about how that Drug is killing people. shit doesn't make sense! For me, we all need to get our heads back on straight, do right for others, and do what is pleasing in the "BIG MAN"S" sight. Can we start being real?
 
richcookies said:
While America has its faults, i am yet to find better protection when it comes to taxes, freedom and liberty to start a business.

In most European countries starting a business is like pulling teeth. In America just move to a lower taxed state.
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Hong Kong doesn't have civil forfeiture because private property rights are inviolate, it has some of the lowest taxes in the world (16.5% profits tax for HK sourced income, and 0% tax on offshore income), and it has minimal business regulations. It's easy to form a corporation here, and thus it's one of the most popular jurisdictions to do so.

Also Hong Kong is ranked the freest economy in the world by the Heritage Foundation and Cato.

I voted with my feet and moved to HK in 2004. I'm glad I did. Stop giving yourself pathetic excuses, sack up, and do what I did.

Also if HK doesn't work for you then there's Singapore, Monaco, and Malta. Take your pick. They're all great tax havens.
 
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